A critical assumption in the classical model is that
a. markets are perfectly competitive in the short run
b. markets clear in the long run
c. markets clear in the short run
d. markets are perfectly competitive in the long run
e. all variables are expressed in nominal terms
B
Economics
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Games can be judged according to the payoffs
A) as zero-sum, negative-sum, and positive-sum games. B) as collusive or noncollusive games. C) as competitive or noncompetitive games. D) whether all companies participate or not.
Economics
If we use the expenditure approach to measure GDP and the income approach to measure national income, we arrive at the same value
Indicate whether the statement is true or false
Economics